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FOX Business
Dec 2, 2012 2:30am EST
not the federal government and me it a big and huge one and any little niche that you can knock down the deficit is good. >> okay, but john, what happens to the states. we are finding out that california is signing up for powerball because of the revenues that they get. is it bad for states. >> it is really bad for states. wayne has much chance of winning the lottery as geth throh a comment without johnathon interrupting. >> zero. >> and the problem you have with this. this could be a biion dollar jack mots and huge and going to kill the state lottos and in the stouthe states. they were sold as a way of funding education . that didn't happen. they are dependent on the general fund. cash strapped states that depend on the lotto, you will cripple the funding for the states is it a bad idea. it robs peter to pay paul. >> johnathon, you wouldn't be cutting wayne off. >> i am keeping quiet. wayne has to check his calculator. 580 million jackpot would pate zero.zero 3 percent of the national debt. we don't need a new plan to pay off theebt. we need a new philosophy and not exasbrate the debt. in a ful
CSPAN
Nov 30, 2012 5:00pm EST
this year in january. at the same time, the deficit for fiscal year 1991 increased in the president's budget summation in february when it was submitted for that year -- yes, sir? >> can i ask you said the sequester order was 31%. >> yes. >> where did it come from? >> did they have a sequestered? >> it grew out of the original holland's 1985 legislation that we adopted it was estimated $100 billion of the end of 1990 had increased nearly $300 billion by the end of 1990 with saddam hussein invading kuwait on august 2nd and the first gulf war. these gentlemen were there. they participated in this long arduous debate. the debate came up to something that is extremely familiar to everyone in this office in this room and that is taxes and spending. more specifically the desire of the president as understand, governor, was to have a capital gains tax cut. but the democrats will only agree the overall rates were increased no such agreement could be reached and democrats retreated on the rate increases while selling for a limitation of tax deductions for higher income. i will give the recollection o
CSPAN
Dec 6, 2012 6:00am EST
to make sure that the wealthiest in this country help pay down this large deficit. >> will the democrats just wait? >> we have a lot of discussions going on in the senate and the various places. we know what the parameters are and the speaker knows what the parameters are. the president is ready, willing, and able to sit down and seriously negotiate with us but they have to be willing to come to the table with specifics like he is doing. >> we have done something. if you look at either proposal, they want every tax rate to go up. we all agree that group of rates should not go up. we just disagree on the top 2%. let's go where we agree which would be the current rates and make sure the folks in the middle class don't have an increase. we all agree on that. but they want more and more. we are saying that you have to start somewhere. they don't want to use the procedure to allow their own people to vote on it. they are holding the american people, the middle-class hostage for small issues they want to fight on and play the press war. we agree on these rates to be lower. we just disagree on
CSPAN
Dec 5, 2012 8:00pm EST
, and he said that it is untanble to not cut them because they are driving the budget deficit, and, you know, the whole entitlement issues, the real core of the problem, the taxing issue, yes, the pyrotechnics, and its -- there's the struggle between the republican and democratic view, but all the numbers people know that it's the entitlement issue so if there's a fix, trajectory to make it somehow stable, that would be -- that's the relation. uh-oh, you have something from the book. >> your books are all ultimately about power, how it's used, squandered, built, and so the sub text of the events that you write about is how life works, how washington works. my favorite sentence in "the price of politics" is, "when you need friends, it's too late to make them." what have you learned about washington and life from the grand bargain? what is the hundred-year lesson from how that unraveled? >> well, you mean last year? what happened last year? well, that they found a way to postpone everything, and, again, they can postpone lots of the problems, but postponement is the theme. the cliche, "ki
CSPAN
Dec 4, 2012 12:00pm EST
and screaming that can't be part of it, yet all of them privately will tell you what's driving the deficit more than any single thing of medicare and medicaid and longer-term social security, so the mere fact that we are discussing those types of things fit. in terms of the votes, look, if it's going to be a deal there has to be votes from both sides. the reality is -- and these guys, the president and the speaker dealt with one another before. they've never been able to come to a deal. they came to a huge deal during the lame-duck session in 2010 on extending the bush tax cuts. they came to another deal without shutting down the government in april of 2011 cutting discretionary spending by billions of dollars and they came to another one on the debt ceiling as well which was a 2.2 trillion dollar long-term reduction in exchange for an increase in the debt ceiling. so, you know, the need to take it to another level. this is a more complex problem, and it's the beginning of a series of negotiations between the two. they are going to be together for the next four years. the president won the elec
CSPAN
Dec 5, 2012 8:00pm EST
with the president and other ceo's to discuss the impending crisis. we even published their own study on the deficit, copies of which are available here today. we look forward to continuing this conversation, keeping the dialogue on going for the next month is critical if we're going to solve this problem -- and we think our panel will be very enlightening in terms of what the issues are. so, al, with that i will turn it over to you and the panel. we look forward to reproductive hour. thank you very much. >> can everybody hear? i welcome you all to bgov -- if you do not know as much about it as you want, i invite you to stay, because it really is a fabulous place. we do have an all-star panel. i will start with my left, which is where bob corker says i always start. tim pawlenty, former governor of minnesota. i wrote that i thought that if he could get the nomination he would have been the strongest republican presidential candidate. i was absolutely right -- we just could not figure out how to get there from here. tim is now the head of the financial services round table, a job he took just about a
FOX Business
Dec 1, 2012 8:00pm EST
us with the deficit of one. that is the deficit. sizable it is. this will be the president's fourth for which he is personally responsible, fourth deficit in excess of a trillion dollars. president obama wants to plug that trillion dollars hole by raising taxes on household incomes, as we all know that have incomes over $250,000. the top 2%. that would bring in $802 million, $82 billion. that'sbout 8% of that deficit. so does that suggt we have a tax problem or, perhaps, a spending problem? think about this taxpayers making more than $250,000 representing the top 2% paid more than 46% f all texas. that would seem like a pretty fair deal to most of us, but the president says it is not fair. we don't know what that number is. how much should it be? and contrary to what the president would have you believe as he campaigns untack sites all around the country and against the wealthy, he's doing a lot of that. the bush tax rates are not the root of our problems. in fact, individual tax payments rose, get this, $2,303,000,000,000 or 26%. over the past two ears. under those very low unshare
CSPAN
Dec 5, 2012 1:00am EST
to create jobs, to reduce the deficit, and again have fairness. this is the heart of the 3459er -- matter that is holding us here. as the public watches what is this about? this is about the $250,000 line that the president said in the campaign that he would honor and that that legislation today brings to bear. i urge my colleagues out of 435 members of the house, we only need a couple dozen republicans to sign the discharge petition. each one of them holds the key to a $2,000 tax cut for the middle class. either sign the petition, urge the speaker to bring the bill to the floor, or explain to your constituents why you do not want them to have this $2,000 tax break if they are -- for 100% of the american people. please sign the discharge petition. let's get this done this week. we could bring this bill up under unanimous consent. the message would be clear to the american people. we heard you in the campaign. be fair. do something that works. work togetha >> today, the house democratic caucus chairman charge republicans to protect the middle class from a tax increase. they spoke to report
CSPAN
Dec 4, 2012 10:00am EST
. not a driver of the deficit but, hey, cut that. one more specific. preserve the bush-era tax rates for income over $250,000. it's not a tax increase for everybody who earns over $250,000. it's only the income over $250,000 that would get additional taxes if the bush-era rates went away and the president's proposal was passed. but, no, they want to preserve -- totally preserve tax cuts for income over $250,000. they want to preserve the reduced capital gains rate and dividends rate which principally who ben pets, who else, millionaires and billionaires. now -- benefits, who else, millionaires and billionaires. they did have the jay wellington wimpy plan. you remember him? popeye. i will pay you for a hamburger today. unspecified tax loopholes. we will lower the tax rates for the people on the top. but they'll raise over $800 billion. the ability to deduct the interest on their home mortgage, do they want to take that away? probably. got to come from something pretty big. they don't want to touch the billionaire, millionaire job creator class. now, you know, that's a pretty interesting position
CSPAN
Dec 6, 2012 7:00am EST
intervention to curb the deficit. it has been astronomical. then i heard barack obama say the way we are going to do it is by making more cuts in various ways. he was saying by making more cuts and the only people it is going to hurt is the working class and somewhat of the middle-class. he should mention the fact that out of control spending has a lot to do with the credit card crunch. specifically because of the middle-class. i think if we get those tax cuts centered with them, i do not think the poll would be affected. you have these small companies that are developing, and he is saying have those small companies hire more people and get them involved, but come consumer expenditures. that is partially i think a solution. host: you are calling on the republican line and you think hillary clinton would make a good candidate. would you vote for her in 2016? caller: i think she would be a very vital aspect to the political process. as far as her running for president, 2016 -- god knows what may happen from this point to that point. as far as her role as a democrat, i think by working along with
Comedy Central
Nov 29, 2012 11:00pm PST
that if they couldn't compromise on a deficit and revenue plan our economy would krafernlt turns out they couldn't compromise. so here's what they did. in order to force themselves to work together and compromise they concocted a catastrophic penalty that would itself crash our economy. brilliant! put it another way. if there is an asteroid headed towards the earth. we made it and fired it at ourselves. (laughter) because otherwise we would never have done the hard work required to protect ourselves from the asteroid. so the asteroid is comings. where are we at. >> if we're serious about reducing the deficit, we have to combine spending cuts with revenue. >> that's kind of an easy-- that seems very solvable. dems want revenue through marginal tax increases on the wealthy. the republicans want entitlement cuts. >> raising tax rates is unacceptable. >> jon: well, let's just check in with the democrats and see where they are at on entitle am reform. >> mr. durbin, the number two man in the senate and other democrats are saying entitlements for this fiscal cliff deal are off the table. >> jon: okay
FOX Business
Dec 5, 2012 7:00pm EST
, for which we're responsible. there is a $1 trillion -- $1.04 trillion deficit this year, fifth year in a row we have this kind of number. we're going to, as folks used to say when i was a young fellow, this country's going to hell in a hand basket if we don't get our act together. >> and right now, we still have time. dollar's not falling. we don't have treasury bond yields soaring through the roof lou: the euro is rising against the dollar. isn't that embarrassing? >> that's not a concern to the administration or congress. lou: we should say to hell with the sound dollar. let's em brails strong competitiveness. last i looked at the trade deficit, we were, again, lagging and uke sucking popped water. there's a rising deficit stripping our gdp. >> and right now europe is in a relatively deep recession. we're still above water. lou: you jumped all over the punch line because you talk about things not making sense. folks, this is not making sense. i'm delighted because people have wealth left in the equities market, the bond market. how long will that be the case if we go over the cliff? >> won
CSPAN
Dec 5, 2012 11:00pm EST
that there are no miracle cures. does the hard work and dealing with deficit and ensuring that britain wins the global race. that work is underway. the deficit is down. borrowing is down. jobs are being created. it is a hard road, but we are making progress. everything that we do, we are helping those who want to work hard and get along. thank you. [cheers] [cheers] >> mr. speaker, today after 2.5 years, we can see and people can feel in the country the scale of this government economic failure. [cheers] our economy this year is contracting. the conferred government borrowing is revised this year and every year. the national deficit is not rising. excuse me, it is rising, it is not falling. [cheers] i will say again that our economy is contracting this year. government rowling is revised up and the national debt is rising. it is not falling. there are people struggling to make ends meet. middle and lower income families who are paying the price. where millionaires get a tax cut and a 3 billion-pound welfare handout to the people who need it. let me spell out the facts. you might learn something. [cheers] [
FOX News
Nov 29, 2012 1:00pm PST
deficit. we still have, the president still has $1 trillion plus deficit if this next fiscal year. he had it for the past four and he has it for the next four if he follows the same course. that is not a road to prosperity or job creation. or economic vitality. >>neil: i want to be clear, congressman. republicans do not appear to be on the same page on this, as republicans, are you saying your view, hiking the rates or adjusting in any way is felt universally by your colleagues? we know a couple of them have bolted from that but you are going to hold in lock step on that position? >>guest: there is a universality in our conference with 240 of us in the house of representatives so there are 240 different opinions but by and large the majority of us firmly believe raising tax rates is counterproductive and doesn't solve the problem. >>neil: always a pleasure, sir, thank you. take the money and run? not quite but quite a run of companies hiking dividends. and disney is the latest and it will probably not be the last and the calendar could be the reason because january 1, you could, taxed to
CNN
Dec 4, 2012 6:00am PST
thought you should take a look. it totals $2.2 trillion in deficit reduction over ten years. the part that stood out to us was $600 billion in proposed savings in medicare reforms. how? in part by raising the age of eligibility to 65 to maybe 67. turning down the gop proposal, dan pfieffer said, quote, it provides no details on which deductions they would eliminate, which loopholes they will close or which medicare savings they would achieve." let's head now to the white house and dan lothian. the white house will not offer a counter proposal, right? what's going on here? >> reporter: well, you know, i think the white house is digging in. the president said early on in this process that he would only sit down and really move forward, negotiate on this in any meaningful way if the tax hikes for the wealthy expired. and republicans have been pushing back on that -- tax breaks rather for the wealthy expired and republicans have been pushing back on that, say they go believe that will be harmful for the economic recovery because wealthy americans are the ones who are creating the jobs and
CBS
Dec 6, 2012 7:00am EST
the debt ceiling now $16 trillion and due to expire in february without more deficit reduction. >> history shows the only major deficit cutting deals we ever do around here, ever comes after debates over the debt ceiling. it may be a good idea if you don't care about the debt but it's a non-starter for those of us who do. >> reporter: public opinion generally is on the president's side, but republicans in the house are not paralyzed or perilous, more unified behind speaker boehner than a year ago. why is this important? the white house is beginning to notice and now believe there is a deal boehner can find the stroets pass it. >> an idea what's really at stake. rebecca jarvis has a look how the government spends money and how it could spend less. rebecca rebecca, good morning. >> reporter: good morning. >> the question comes up in terms of the money that we're talking about in raising the rate. how much is it that the republicans are objecting to? >> if you look at that $250,000 number, if you were to raise taxes on everybody making $250,000 or more in
CNBC
Dec 5, 2012 9:00am EST
that if we go over the cliff the deficit goes up. >> and the debt goes up. >> and the debt goes up. >> wrong. >> like our relationship people don't get it. >> deficit almost goes away. difference is about $8 trillion. >> about 10.5. >> join us tomorrow. right now it's time for "squawk on the street." >>> good wednesday morning. welcome to "squawk on the street." live at the nyse. what a morning shaping up here. a little data to look at. m&a. the president speaks to the business roundtable in a couple of hours. futures with modest gains. europe holding onto gains and china up nearly 3% over night as shanghai catches a break. our road map begins with a $20 billion deal. freeport mcmoran getting into the energy business making two acquisitions. plains exploration and mcmoran exploration. >>> concerns over the u.s. economy as adp misses estimates. the blame goes to superstorm sandy. goldman says the party is officially over for gold. >> starbucks at an investors conference will add 1,500 stores in the u.s. over the next five years. wait until you hear what they said about china. >> a big day in
CSPAN
Dec 5, 2012 5:00pm EST
executives today in washington. he talked about negotiations with congressional republicans on deficit reduction and the so-called fiscal cliff. >> the holdup right now is that speaker boehner took a position -- i think the day after the campaign -- that said we're willing to bring in revenue, but we aren't willing to increase rates. and i just explained to you why we don't think that works. we're not trying to -- we're not insisting on rates just out of spite or any kind of partisan bickering. but rather because we need to raise a certain amount of revenue. now we have seen some movement over the last several days among some republicans. i think there's a recognition that maybe they can accept some rate increases as long as it's combined with serious entitlement reform and additional spending cuts. and if we can get the leadership on the republican side to take that framework, to acknowledge that reality. then the numbers actually aren't that far apart. another way of putting this is, we can probably solve this in about a week. it's not that tough. but we need that breakthrough that s
CSPAN
Dec 4, 2012 8:00pm EST
the deficit and restructure fiscal policy. so as eventually to bring the budget into balance. this framework must include tax reforms to raise more revenue, encourage growth and enhance progressivity. it must include parameters defining future levels of debt as a share of the gdp. and a date by which the budget will balance. and it must include changes to discretionary spending, entitlements as well as defense. our elected leaders should launch an expedited process to enact legislation that will construct this framework many 2013 -- in 2013, including powerful but appropriate default and enforcement mechanisms. without a recalibrated, sustainable fiscal policy, the united states' international standing will decline, and its national security will be undermined. such an outcome would be bad for the united states and, in our view, bad for the world. as pete said, he and i are joined here today with three, by three distinguished individuals. er is slams of america for -- servants of america for decades who made a difference, who had to come up with tough solutions to very complex problems. and
CNBC
Dec 3, 2012 6:00am EST
's on a deficit crusade. david walker, taxes ranger, next. toward all your financial goals. a quick glance, and you can see if you're on track. when the conversation turns to knowing where you stand, turn to us. wells fargo advisors. the latest coffee machine from nespresso. modular. intuitive. combines espresso and fresh milk. the new u. nespresso. what else? available at these fine retailers. who have used androgel 1%, there's big news. presenting androgel 1.62%. both are used to treat men with low testosterone. androgel 1.62% is from the makers of the number one prescribed testosterone replacement therapy. it raises your testosterone levels, and... is concentrated, so you could use less gel. and with androgel 1.62%, you can save on your monthly prescription. [ male announcer ] dosing and application sites between these products differ. women and children should avoid contact with application sites. discontinue androgel and call your doctor if you see unexpected signs of early puberty in a child, or, signs in a woman which may include changes in body hair or a large increase in acne, pos
MSNBC
Dec 3, 2012 1:00pm PST
and then these will be the numbers that the committees on capitol hill work towards in terms of having sizable deficit reduction. >> here is the problem, luke. how is it possible that speaker boehner puts on the table $150 billion less than he considered conceding during the grand bargain negotiations? did the last year not happen? >> reporter: what you're seeing here is a proposal by speaker boehner with the $800 billion in revenue which is where they were during -- >> you're trying to stifle yourself from laughing, luke. >> reporter: i'm not. i think one interesting points here in terms of the letter is that the first line is, dear mr. president, after a status quo election, and if you talk to folks at the white house, they don't view it as a status quo election. they thought what they had was a huge victory, and they are just -- if you're flying at 35,000 feet, you see the difference between both of them here is babe e boehner is like our margins in the house, you know, we still have a sense of clout. democrats are saying we increased our clout. this offer is meant by boehner to say the first one from geithn
FOX Business
Dec 2, 2012 1:00am EST
real problem, the growing deficit on the path to greece, the goal gets worse once we kick the can away. that will be the overriding probleming not the slowing economy not people spending money, but sure, that might not happen in the first two months, but it will eventually happen if we keep kicking down the can. we want to prove to the world that we have a solution and if it takes a few months to get there and higher taxes for a while, big deal, we will get there. that's got to be the plan not just the same nonsense. >> yeah, but larry, that's part of your point, but jonas says we're not in a bad recession, we're certainly not in a good recovery. and if we just keep falling little bit by little bit, maybe as much as jump off the cliff, but it's certainly a slippery slope. >> brenda, the damage is already being done. we saw it in november retail sales and companies delaying activity already and we know the ratings agencies are minutes away, we're right to fix the problem in the long run than making a bandaid short-term deal. it doe't get recovery. >> we're going to get a bandaid deal an
FOX Business
Dec 2, 2012 2:00am EST
on military spending. >> absolutel >> and that is increasing and guess what, that adds up to the deficit, right? >> david, the probl is deeper than what you are describing. this goes back decades. when you look at entitlement spending over the last half century, it has steadily crept up four percent every year and that incdes adjustments for population growth. so what then? you increaseaxes four percent every year? that is absurd. at some point we need both parties to come together and tax this entitlement creep. we mention obama ape lot. he hasn't helped the numbers. but when you look at enment spending it goes up under a republican president. he can go in this and blame the republicans. >> i didt know there was a entitlement creep. maybe i got you wrorong. >> it is i an itch. >> and john, what about this. we have a budget if you can call it a budget that includes tax increases and no cuts at all from our treasury security. >> the tax increase aspect is ridickulous. we have a spending problem . you look at entitlements. i think it is i i don't they should exist. we did make promises and
CNBC
Dec 4, 2012 9:00am EST
leaders. governors are concerned about the impact of deficit reduction measures on their state budgebu. the latest gop offer would overhaul the tax code, raise $800 billion in new revenue but seek $600 billion in health savings, net savings add up to about $2.2 trillion over ten years. boehner called the white house's original offer la la land and it does appear that even though at one point bowles endorsed a blueprint like this, he's trying to distance himself from it right now. >> the president got re-elected. he's claiming he got re-elected in part because he wants to tax that 2%. he cannot go back on that. in the meantime, congress most of the republicans signed the grover norquist pledge which says you cannot tax that 2% more than anybody else. you can't increase the taxes. so we're at a stalemate and someone has to give and i don't see anyone giving right now. >> bank of america today commented on the let's jump crowd. the bungee jump crowd for which they think is a scenario. >> you wonder how much of that is in negotiating position. embraced early on by senator schumer, new york
MSNBC
Dec 5, 2012 3:00am PST
him for a long time, deficit hawk. they haven't allowed him to put a budget out for years. he's growing frustrated. i'm sure he's going to be glad to leave. but i was surprised by that as well. you see also, sam stein, republicans are now starting to really bash boehner from the right. the president needs to take note. he needs to take note. >> give him some running room. >> i'm only saying this because you remember, we went through this with newt. you know, bill clinton would push newt only so far, and then the conservatives in the caucus like myself and matt salmon, steve largent and others would say we're not doing a deal. we will take this place down. we're not doing a deal. and then newt would call bill clinton up and say, you're pushing me too far. you've got to work with me here. the same thing's happening right now with boehner. >> with boehner. >> the republican -- and when you start stripping people of committee -- committee seats, war breaks out and it gets really -- it happened with us. it's about to happen here. he's got to realize that boehner is his partner. >>
CNN
Dec 3, 2012 5:00pm PST
offer a counter proposal on the fiscal cliff. their plan, $2.2 trillion deficit savings over the next decade, but it does not include higher tax rates for the wealthy. the house speaker john boehner calls it a credible plan that deserves serious consideration by the white house. guess what? the white house released a statement tonight saying the plan is nothing new, that it lowers rates for the wealthy and sticks the middle class with the bill. so to borrow a phrase, we're nowhere. period. david walker is president and ceo of comeback america initiative. he's made it his mission to promote fiscal responsibility. he joins us along with cnn political analyst, david gergen. the house republicans put forward their counter proposal. speaker boehner says it's credible and the white house should consider it. is it credible or is it more of what you have called the irresponsible unethical immoral behavior of all the politicians here in washington? >> i think both sides are now putting things on the table but i think they're confused. what we have to do in the short term is avoid the fiscal cl
KRON
Dec 6, 2012 4:00am PST
- percent of voters were willing to share their thoughts about the "simpson- bowles" deficit policy up for debate in >> you don't have to look >> >> nobody wants to get this done more than me. >> >> but key players aren't talking in the same room. congressional aides say they're not even >> the president is ready, willing and able, waiting to be able to sit down and seriously negotiate this but they have to be willing to come to the table with specifics. i think the next 72 hours >> some lawmakers are going back to their districts. congress has little scheduled business for the rest of the week. house negotiations. >> i'll be available at any moment to sit down with the president to get serious >> a sticking point remains whether to raise tax rates for the wealthiest two percent of americans. speaker boehner concedes the rich will pay more in taxes, but says that won't solve a spending problem. his democratic counterpart says >> passing middle income tax holding them hostage from tax cuts for the rich. >> president obama also tried to pin a negotiating tactic on republicans, saying c
CNBC
Dec 4, 2012 1:00pm EST
the deficit and putts on a path to long-term stability. what i need, what the country needs what the business community needs in order to get to where we need to be is an acknowledgement that folks like me can afford to pay a little bit higher rate you if we combine that with a tax reform process and entitlement reform. then we can get a $4 trillion deficit reduction package. >> you can begin to see, if you take $400 billion in deductions, combine that with a partial increase in the top rate, remember, the president proposed to get about $1 trillion from raising the top rate to 396, you can see how some of the elements of a revenue package come together. one other note from that interview, tyler and sue, was that the president was asked will you bring a big business executive into your cabinet? he said i would love to. i'm in constant conversation. one of the challenges, though, is the confirmation process, which is difficult and forbidding for a lot of those business executives to go through. >>> it is, indeed, john. from what you heard from the president today, do you sense that they are in
Current
Dec 5, 2012 9:00am PST
for the fanel to advance a deal with democrats to cut deficits but -- >> grover norquist drowns himself in a bathtub. after he hears that. >> he made me do it. >> stephanie: two of the republicans that vote most often against boehner. boehner is trying to control his caucus. >> i'll be really surprised -- >> stephanie: these two guys, whatever their names are they said despite sweeping changes to medicare and medicaid, paul ryan's budget didn't make deep enough cuts to entitlement. those guys. yeah, that wasn't quite mean enough. [ applause ] >> i would be surprised if boehner kept his leadership position in the next congress. >> stephanie: really? >> yeah. because he's not -- >> stephanie: i picture eric cantor rubbing his hands together like snidely whiplash. >> he can't keep the caucus together. the republicans are famous for staying together. he can't keep them together. >> flabbergasted! >> that's doing a bad job. >> stephanie: he's flabbergasted at his own caucus. [mumbling] >> stephanie: by the way doesn't
FOX Business
Dec 1, 2012 3:00am EST
a budget -- three years with a trillion dollar deficit. so we are talking about a problem that needs to be solved with massive spending cuts on the table. neil: i don't know what is really happening behind the scenes. but i do know that these overturesand hands that you get from the white house that the president is open and willing to consir spending cuts -- i don't know what the truth is. the other thing on this middle ground, the tax thing -- letting the difference of 37 or 38%. giving the appearance that there is a middle ground being found here, do you believe that? >> if you look at the middle ground and what is reported, they are giving specifics on taxes, but not stunning. they are saying that those tax cuts will happen 10 to 20 years from now. that is saying that congress at that time, 10 years from now, is going to agree with the spending cuts. listen, we are in this situation because coogress could not even agree on spending cuts your way when the sequester was going into effect and they failed as a super committee in november. they can't even agree on spending cuts. how d
FOX Business
Dec 3, 2012 8:00pm EST
: they are sweating a lot. >> they instigated deficit reduction it has been tough times, britain with a double dip recession this year, so, it is all about shared sacrifice, everyone from the queen, doing their bit. neil: does the queen sacrifice? >> she seen as not taking -- but all about everybody on the budget. then you have starbucks that found out, you can't move the starbucks in britain, taking away a lot of traditional british tea shops have you starbucks. it has moved in over a third of coffee shops are starbucks. past 14 years starbucks paid lesser than 1% in corporate tax rates. neil: in britain. is it legal? >> it is legal, but the loopholes have to close, to be fair to starbucks, they realized this is p, suicide, they said we do need to pay more, it will be interesting whether google and amazon will follow. neil: i am not a fan of any company that is charges $7 for a cup of coffee. it has to be made out of gold. then you could not drink it i am wondering. it seems to me, there is a disproportionate emphasis on raising taxes, the rate they brought to $55, they over did the fees, and cha
CBS
Dec 5, 2012 4:00am PST
contributions will go from 4.2% to 6.2%. that's $115 billion a year that would go to deficit reduction instead of being pumped into the economy. heidi sherholtz is an economist. >> it's less money for consumers to spend, that means that the demand for business services will drop, who provides goods and services, workers, so employment will fall. >> reporter: those in favor allowing the tax cuts to expire argue money for social security payments has to come from somewhere. although john says that somewhere will mean doing without some of the basics. >> might be a pair of sneakers. >> reporter: might be a jacket. might be those pair of boots that they want to go there and keep warm. >> for john the debate in washington is not about the federal budget it's about his family's. jim axelrod, cbs news, west new york, new jersey. >> early this morning a tentative deal was reached to end the strike that shut down this nation's largest port complex. workers are expected to return to work this morning. clerks at the ports of los angeles and long beach, california had been on strike for eight days. the de
FOX News
Nov 30, 2012 3:00am PST
, but if the president and the congress can't get together on cutting on doing something about the deficit and doing stuff, fine let the cliff come. >> brian: but the deficit is not addressed and our defense will be gutted. you okay with that? >> i'm not okay with it. but i think the defense will just trim and get it done. listen, the guys who are in the military have operated that way for a long time. in other words they know somebody gives them something they know how to get a job done with less in many cases. they'll do it. >> brian: i don't think so. i think it will be a disas -- disaster and the military will be cut down. >> maybe the disaster would be maybe they don't understand it. now deal with it. >> brian: there is carnage until they come to the realization. thanks so much. >> thank you. >> brian: this morning you will hear from the cop who spent his hard earned cash to buy a homeless man a pair of boots and socks. and from the tourist who snapped this picture. then schools are failing. crime is rising. so why
MSNBC
Nov 30, 2012 7:00am PST
) savings to address the deficit. that means those 61 million hardworking americans with workplace retirement plans might not have comfortable, secure retireme retirements, after all. >> okay, that's scary. joining me, personal finance expert carmen wong ulrich. good to see you. >> good to see you. >> you look at that, and you think the sky is falling. would they really touch your 401(k), your i.r.a.? >> it sounds terrifying but i doubt this will happen. even though the top 20% of americans tend to utilize 80% of retirement savings, but the 401(k) is the middle-income way to save for retirement. and here's where they could hit you. for example, this is pre-tax money that you're saving, right? they could hit you there. this is money that you can actually grow tax free. they could hit you with that. but here's where it will hit retirees when it comes to raising taxes on income levels. in retirement when you may money out of your 401(k), it's taxed as income. i.r.a., this is where folks save outside post-tax money into retirement savings. you may lose the tax deduction there. that wil
MSNBC
Dec 4, 2012 6:00am PST
that entitlement are not the drivers of the deficit. >> you don't think he put enough detail on the entitlements? >> no. >> we'll ask him that when he comes back. our question of the day is how many current senators are named john? any spelling of the name counts. the answer is 12. isakson, kyl, boozman, mccain, tester, thune, reed, and rockefeller. that's not counting the two senators whose last name is johnson. you didn't have to come over! actually, honey, i think i did... oh? you did? whoa, ladies, easy. hi. cascade kitchen counselor. we can help avoid this with cascade complete pacs. see, over time, cascade complete pacs fight film buildup two times better than finish quantum. to help leave glasses sparkling shiny! too bad it doesn't work on windows. okay, i'm outta here. cascade. the clear choice. [ "the odd couple" theme playing ] humans. even when we cross our "t"s and dot our "i"s, we still run into problems -- mainly other humans. at liberty mutual insurance, we understand. that's why our auto policies come with accident forgiveness if you qualify, where your rates won't go up due to y
CNBC
Dec 6, 2012 1:00pm EST
we asked last time about when they had a debt -- big deficit debate. we find first, 17% back in november thought congress and the administration could come to a deal. now 44% say it is unlikely. current results -- 48%. put those two blue columns together. 48% to 44% is that a solution is likely. let's come over on this side and look at who believes that it is likely. when you break it down by party you get some interesting results. right here republicans, 52% say it is unlikely to 42%, i independents, 47%-43%. democrats are driving this number. when we look at the 48% on this side think it's likely, that's driven very much on the other side by the 60% of democrats. now what do people want? when we go to the wall for that, some interesting results here. what this is, this is net percent acceptable. if 50% think the idea's acceptable, 30% think it is unacceptable. that gives you a net 20%. what we find here is that raising taxes for those who make incomes of greater than $250,000, that's the most acceptable. why? the blue, net acceptable for democrats, pluts green acceptable fo
FOX Business
Dec 5, 2012 11:00am EST
, possibly defaults on its deficit. that we give up the basic notion that the united states stands behind its obligation. we cannot afford to go there again. this is not just my opinion. it is the opinion of most of the folks in this room. when i hear someone the other side suggesting that to resolve the possibility of a perpetual or a reportedly debt ceiling crisis, that there is a price to pay, the price is paid by the american people and your businesses and the economic environment worldwide. we should not accept going through that. you know, john engler, he and i philosophically do not agree on much -- [ laughter ] >> you know, i am just being honest about john. he ii a great politician. he comes from the other party. he is exactly right when he says the only thing that the debt ceiling is good for is destroying your credit rating. i want to send a very clear message to people here. we are not going to play that game next year. if congress in any way suggest that they will type negotiations to that feeling both and take us to the brink of default onne again, as part of a budget to go she
CSPAN
Dec 1, 2012 7:00am EST
was in your waiting room. a member of congress was on ahead of me talking about the deficit debate. her press secretary was looking at the tweet feed as the member of congress was talking. they are literally getting a line by line they are literally giving a line by line analysis. i would say to citizens, follow your representative on facebook. it is very authentic. members of congress will look at those comments. we did a webinar during the research, and a staff member said they see 20 or 30 comments on their facebook page, and that is something they will listen to. it is such an authentic medium. you cannot take a youtube video. members of congress really enjoy the interactivity that it provides. not all members are using it, although from what i understand, only about five members of the u.s. senate are not on twitter, and 3 are retiring this year. call me crazy -- i think this twitter thing is going to catch on in congress. people are really using it. it varies in terms of how well they are using it, but we do know they are paying attention. they are looking at the facebook pages. these d
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